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Nikola Corporation - NKLA STOCK NEWS

Welcome to our dedicated page for Nikola Corporation news (Ticker: NKLA), a resource for investors and traders seeking the latest updates and insights on Nikola Corporation stock.

Nikola Corporation (Nasdaq: NKLA) is a pioneering force in the realm of zero-emissions transportation and energy solutions. Headquartered in Phoenix, Arizona, Nikola focuses on the design and manufacture of electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. The company operates primarily through two business units: Truck and Energy.

The Truck Business Unit is responsible for producing and selling Fuel Cell Electric Vehicles (FCEVs) and Battery Electric Vehicles (BEVs). These vehicles are designed to offer environmentally friendly, cost-effective solutions, particularly to the trucking sector. Notable recent achievements include the successful delivery of the first production Class 8 hydrogen fuel cell truck in North America in Q4 2023. The company has also made strides toward scaling production and enhancing the capabilities of their battery-electric trucks.

The Energy Business Unit focuses on developing and maintaining a broad hydrogen fueling infrastructure. Through their HYLA brand, Nikola has opened modular refueling stations in California and is working on further expanding this network. In 2024, they plan to secure additional sites and deploy modular fuelers to support fleet operations.

Under the leadership of CEO Steve Girsky, Nikola reported impressive financial results and business updates for the fourth quarter and full year ending December 31, 2023. They began delivering production hydrogen fuel cell electric trucks and have ambitious plans to optimize revenue and costs while securing additional refueling sites.

Nikola's commitment to sustainability is further exemplified through strategic partnerships. For instance, their collaboration with IMC, the largest marine drayage company in the U.S., led to an order of 50 Nikola hydrogen fuel cell electric trucks, further solidifying their position in the market.

In addition to these operational successes, Nikola is also enhancing their executive team. The recent appointment of Thomas

News

NIKOLA ANNOUNCES EXPANSION OF DEALER SALES AND SERVICE NETWORK INTO CANADA IN PARTNERSHIP WITH ITD INDUSTRIES

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Nikola expands dealer network into Canada with ITD Industries Inc., a leading commercial trailer manufacturer and technology business. Canada's supportive environment for zero-emission vehicles and ambitious carbon reduction goals make it a strategic market for Nikola's Class 8 trucks. ITD's commitment to sustainability and innovation aligns with Nikola's mission. Significant growth anticipated with eligibility for incentives up to $200,000 (CAD) for hydrogen fuel cell electric trucks and $150,000 (CAD) for battery-electric trucks.
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JOHN VESCO APPOINTED TO NIKOLA BOARD OF DIRECTORS

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Nikola Corporation has appointed John Vesco, a seasoned multi-modal transportation expert, to its Board of Directors. Vesco's extensive executive leadership within prominent transportation and supply chain organizations underscores his qualifications to contribute significantly to Nikola's strategic growth initiatives.
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Nikola Announces Preliminary Results of Battery Investigations, Voluntarily Recalls 209 Class 8 Battery-Electric Trucks

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Nikola Corporation announces a voluntary recall of approximately 209 Class 8 Tre battery-electric vehicles (BEVs) due to a coolant leak in the battery pack. The recall does not affect the hydrogen fuel cell electric vehicle (FCEV) currently in production. Investigations indicate a single supplier component as the likely source of the coolant leak. Efforts are underway to provide a field remedy in the coming weeks. Two battery packs have experienced a thermal event out of more than 3,100 packs produced to date.
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Nikola Corporation Reports Second Quarter 2023 Results

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Nikola Corporation reported financial results for Q2 2023, with 45 wholesale and 66 retail deliveries of battery-electric trucks. They began serial production of hydrogen fuel cell electric trucks and have 18 customer orders for over 200 trucks. Nikola increased their unrestricted cash position by $107.1 million in Q2.
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Nikola Announces Leadership Transition; Appoints Stephen Girsky as Chief Executive Officer

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Michael Lohscheller steps down as President and CEO of Nikola Corporation, Stephen Girsky named successor. Lohscheller resigns due to family health matter and will remain in an advisory role. Girsky, Chairman of the Board, will also serve as CEO. Steve Shindler becomes Chairman of the Board.
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NIKOLA STOCKHOLDER MEETING: PROPOSAL 2 PASSES

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Nikola Corporation (NKLA) Receives Stockholder Approval for Increase in Authorized Common Shares
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NIKOLA CORPORATION HYDROGEN FUEL CELL ELECTRIC VEHICLE DEMAND SURPASSES 200

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Nikola surpasses 200 sales orders for hydrogen fuel cell electric trucks, with 202 orders from 18 end customers. Deliveries expected later this year. Positive industry momentum and confidence in sustainable transportation solutions. Nikola eligible for various government incentives in the US and Canada.
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NIKOLA SCORES BIG WIN IN HYDROGEN STATION REGULATORY GRANT FUNDING WITH AN ADDITIONAL $16.3M FOR A TOTAL OF $58.2M IN THE LAST 30 DAYS

Rhea-AI Summary
Nikola Corporation has been awarded an additional $16.3 million in grants and government funding to support the development of seven open-network hydrogen refueling stations. This brings the total amount awarded to Nikola to $58.2 million. The awards are part of the company's plans to create a comprehensive zero-emission transportation solution and improve air quality. The funding will also support the development of up to 50 HYLA stations throughout North America over the next five years. Additionally, HYLA is developing a fleet of hydrogen mobile fuelers to provide Hydrogen Flex Fueling.
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J.B. HUNT TO PURCHASE 13 ZERO-EMISSION NIKOLA TRUCKS

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Nikola Corporation and J.B. Hunt Transport Services Inc. have announced an agreement for J.B. Hunt to purchase 13 Nikola zero-emission Class 8 trucks. The initial order includes 10 battery-electric and three hydrogen fuel cell electric vehicles, with delivery expected in August 2023. The trucks will be strategically located at facilities in the greater Los Angeles and Phoenix areas. J.B. Hunt aims to reduce carbon emission intensity and incorporate alternative powered equipment into its fleet.
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NIKOLA AND FORTESCUE FUTURE INDUSTRIES COMMIT TO CREATING AMERICAN GREEN ENERGY JOBS WITH ACQUISITION OF NIKOLA'S PHOENIX HYDROGEN HUB

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Fortescue Future Industries (FFI) is set to acquire Nikola's Phoenix Hydrogen Hub (PHH) project, a fast-to-market green hydrogen project located near Phoenix, Arizona. FFI will bring the capital and resources to develop the project, and they are working towards a hydrogen supply agreement to support Nikola's zero-emission trucks. This acquisition strengthens the hydrogen hub and supports Nikola's goal of increasing the number of zero-emission trucks on the road.
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FAQ

What is the current stock price of Nikola Corporation (NKLA)?

The current stock price of Nikola Corporation (NKLA) is $2.34 as of November 15, 2024.

What is the market cap of Nikola Corporation (NKLA)?

The market cap of Nikola Corporation (NKLA) is approximately 146.7M.

What does Nikola Corporation do?

Nikola Corporation designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains.

What are Nikola's latest achievements?

Nikola has successfully delivered the first production Class 8 hydrogen fuel cell truck in North America and is expanding its hydrogen fueling infrastructure.

Who is the CEO of Nikola Corporation?

Steve Girsky is the current CEO of Nikola Corporation.

What is the HYLA brand?

HYLA is Nikola's energy brand focused on developing a comprehensive hydrogen refueling ecosystem, including supply, distribution, and dispensing.

Where is Nikola Corporation headquartered?

Nikola Corporation is headquartered in Phoenix, Arizona.

What are the business units of Nikola Corporation?

Nikola operates through two main business units: the Truck Business Unit and the Energy Business Unit.

What recent partnerships has Nikola formed?

Nikola recently partnered with IMC, leading to a significant order of 50 hydrogen fuel cell electric trucks.

What are Nikola's plans for 2024?

In 2024, Nikola aims to optimize revenue, scale hydrogen fuel cell electric truck production, secure additional modular refueling sites, and bring their battery-electric product back to the market.

How is Nikola enhancing its executive team?

Nikola recently appointed Thomas 'Tom' B. Okray, an accomplished financial executive, as Chief Financial Officer to strengthen its leadership.

Where can I find more information about Nikola Corporation?

More information can be found on Nikola's official website, as well as their social media channels on Facebook, Instagram, YouTube, LinkedIn, and Twitter.

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Nikola Corporation

Nasdaq:NKLA

NKLA Rankings

#4080 Ranked by Market Cap
N/A Ranked by Dividends

NKLA Stock Data

146.69M
60.87M
4.05%
22.42%
23.56%
Farm & Heavy Construction Machinery
Motor Vehicles & Passenger Car Bodies
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